This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-39041796
The article has changed 4 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Asda sales drop continues to lessen in fourth quarter | Asda sales drop continues to lessen in fourth quarter |
(35 minutes later) | |
Supermarket giant Asda has finished its year by reporting another drop in quarterly sales. | Supermarket giant Asda has finished its year by reporting another drop in quarterly sales. |
However, this was not as sharp a fall as in previous quarters. | However, this was not as sharp a fall as in previous quarters. |
Sales excluding fuel at stores open for more than a year fell 2.9% in the fourth quarter. | Sales excluding fuel at stores open for more than a year fell 2.9% in the fourth quarter. |
That was better than the 5.8% slide in the third quarter, and a significant improvement on the 7.5% slide reported by the supermarket for the three months to June. | That was better than the 5.8% slide in the third quarter, and a significant improvement on the 7.5% slide reported by the supermarket for the three months to June. |
Asda, which is owned by Walmart, the US retail giant, has battled to retain its place in a fiercely competitive market with more store openings from German discounters Lidl and Aldi. | Asda, which is owned by Walmart, the US retail giant, has battled to retain its place in a fiercely competitive market with more store openings from German discounters Lidl and Aldi. |
Walmart chief executive Doug McMillon said: "In the UK, we faced some challenges this past year and we're addressing this with urgency. | Walmart chief executive Doug McMillon said: "In the UK, we faced some challenges this past year and we're addressing this with urgency. |
"I'm glad store sales improved during the fourth quarter, but we have a lot of work to do." | "I'm glad store sales improved during the fourth quarter, but we have a lot of work to do." |
Asda chief executive Sean Clarke said the supermarket had gained more than 140,000 customers in the fourth quarter. | |
He added that Asda had "sharpened" its prices and focused on its ranges and the availability of its products. | |
Mr Clarke was brought in as chief executive in July last year as part of an attempt to revive the supermarket's fortunes. | |
In June, Walmart had said Asda would shift from protecting profit to protecting market share. | |
Walmart US sales rise | |
Meanwhile, Walmart reported higher-than-expected US sales after a 29% boost to online sales and more people coming to its stores. | |
Its shares rose more than 3% in pre-market trading. | |
US comparable sales excluding fuel rose 1.8%, beating analyst estimates of 1.3%. | |
US net sales rose 2.8%. However, Walmart International net sales dropped 5.1% after currency fluctuations. |